The Co-operative Bank's disgraced former chairman, Paul Flowers, apparently won the job because he beat his rivals' psychometric test scores, MPs on the Treasury Committee have been told.
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Wednesday 22 January 2014
The value of assets held by hedge funds, private-equity firms and real-estate fund managers reached $6trn (£3.6trn) last year as investors regained their appetite for risk.
Tuesday 21 January 2014
Third Point, the hedge fund run by activist investor Daniel Loeb, has taken a significant shareholding in Dow Chemical and is urging the company to explore a spin off of its petrochemical business so it can concentrate on being a specialty chemicals firm.
Tuesday 21 January 2014
The value of assets held by hedge fund, private equity and real estate fund managers reached $6 trillion (£3.6 trillion) last year as investors regained their appetite for risk.
Wednesday 15 January 2014
Billionaire activist investor Tom Sandell has accused the £1.7 billion transport group of a “premature” rejection of its break-up plans for the business.
Tuesday 07 January 2014
Hedge fund giant Man Group has brushed off Richard Desmond's £20 million High Court claim for losses on a financial product, insisting it did not even act as the counter-party in the disputed transaction.
Tuesday 24 December 2013
Australia extends Serco Christmas Island deal
Serco, the outsourcing giant which repaid £68.5m to the UK Ministry of Justice last week, has received a vote of confidence from the Australian government. It has extended Serco’s contract with its border protection department to run 17 detention centres in the country’s mainland and on Christmas Island.
Tuesday 17 December 2013
America’s Securities and Exchange Commission has taken former Goldman Sachs London banker Fabrice 'Fabulous' Tourre to court demanding $1.1 million (£674,000) in fines and other penalties for his role in a failed mortgage-backed securities deal which cost investors $1 billion.
Wednesday 11 December 2013
Nearly four years after President Obama first proposed curbs to rein in the risky bets on Wall Street, US regulators have finally ratified a strict new regime aimed at stopping banks from making speculative trades that could cause another meltdown.
Thursday 05 December 2013
Sunday 01 December 2013
Around 10 years ago, I opened an account with the Co-operative Bank. I was attracted by its policy of not lending money at excessive rates of interest to the very poor and staying out of the way of arms deals and the like. It seemed by far the best of a bad bunch in the sense that it appeared to have morals. At around the same time, in a feeble anti-capitalist campaign, I joined the Phone Co-operative and an energy supplier called Ecotricity, which apparently supplies its power via windmills.
Thursday 28 November 2013
The Co-operative Bank has admitted for the first time it is losing customers after a series of scandals including alleged drug-taking by former chairman Paul Flowers.
Friday 15 November 2013
Wednesday 13 November 2013
A measure in George Osborne’s 2013 Budget which made no headlines outside the financial pages was the abolition of stamp duty reserve tax on UK-domiciled asset management funds. That may not sound like an attention grabber, but it was manna for Britain’s hedge-fund bosses, who by the Government’s estimate saw £145m drop off their companies’ collective annual tax bill.
Saturday 09 November 2013
A group of the City’s best-known corporate advisers has been summoned to appear before a committee of MPs to discuss the price at which Royal Mail was floated on the London Stock Exchange last month.
Wednesday 09 October 2013
An Early Day Motion has been tabled in Parliament calling on the Coalition to review its decision
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